Timken Co. (TKR) said it signed an agreement with Daido Steel Co. Ltd, whereby Daido would manufacture specialty steel products according to Timken specifications. The company said this would allow Timken to broaden service to industrial customers throughout Asia, where such highly engineered, specialty steel is not widely available, and demand for it continues to grow. Under an initial five-year agreement, Daido would manufacture high-performance steel as specified by Timken. Those finished products would carry the Timken brand, and would be marketed, sold and distributed by The Timken Company's sales force and its authorized distributors in Asia.
This is the second collaboration between Timken and Daido Steel. In 2006, the two companies initiated collaboration on technical aspects of Timken's new small bar mill commissioned last year in Canton, Ohio.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.